B. Riley Issues Positive Forecast for Lithium Americas (NYSE:LAC) Stock Price

Lithium Americas (NYSE:LAC) had its target price hoisted by B. Riley from $4.50 to $5.00 in a research report report published on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.48) EPS.

Several other research analysts also recently weighed in on the company. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler began coverage on shares of Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Stock Down 3.6 %

LAC stock opened at $3.73 on Tuesday. The business’s fifty day simple moving average is $3.10 and its two-hundred day simple moving average is $3.09. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.71. The firm has a market cap of $823.10 million and a price-to-earnings ratio of -30.25.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Research analysts expect that Lithium Americas will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in Lithium Americas by 50.7% in the 3rd quarter. Barclays PLC now owns 115,208 shares of the company’s stock valued at $311,000 after buying an additional 38,781 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Lithium Americas during the 3rd quarter worth $161,000. XTX Topco Ltd acquired a new stake in shares of Lithium Americas in the third quarter valued at about $133,000. National Bank of Canada FI boosted its holdings in Lithium Americas by 13.2% during the third quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after buying an additional 4,340 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in Lithium Americas in the third quarter valued at about $787,000.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.